Solana Beach Real Estate Market Report for May 2011
Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and one of the more expensive coastal communities in the North San Diego County area.
READ MORE: Solana Beach Real Estate
As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential in order to make informed decisions; media reports focus on general market statistics and therefore will not provide you with an accurate picture of the Solana Beach real estate market conditions.
The following data are taken from the San Diego MLS for Solana Beach real estate (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured housing). The data are believed to be reliable but are not guaranteed.
In May 2011 there were 10 Solana Beach homes sold, 11% more than the number of sales in April. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
10 (up 11%) |
6 (up 50%) |
4 (down 20%) |
|
Average $
|
$1,053,900 (up 38%) |
$1,510,000 (up 61%) |
$441,000 (down 29%) |
|
Days on Market
|
120 |
54 |
75 |
|
Sale Price/List Price
|
92% |
88% |
96% |
Sales volume rose from April, with average sales prices increasing significantly for detached homes but declining for detached. The sales numbers are still relatively small so one cannot draw any firm conclusions about price trends and are affected by the sale of high priced homes.
At the end of May 2011 there were 130 Solana Beach homes for sale, 6% more than at the end of April. Eight of these homes are "contingent" (short sale or REO homes with offers being reviewed by lenders and so technically still active). This represents an inventory of 14.4 months for attached homes (down from 14.7 months) and 9.9 months for detached (up from 8.3 months in April) based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In May 33 homes came into the Solana Beach real estate market, 1 more than in April; 15 homes went pending in May 2011, in contrast to 17 last month, a decrease of 12%.
This overview of the Solana Beach real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in July. More details can be provided if needed with regard to current activity as well.
Search for Solana Beach Homes for Sale
READ MORE:
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for April 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for March 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for February 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for January 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for December 2010
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for November 2010
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I LOVE Solana Beach and that entire area. I hope someday to be back there but Alas for not its just a nice wish.
Hi Jeff
Very nice market report on Solana Beach and hope all is well
I hope this means that the report is actually a trend. Time will tell. It is good to hear that great things may be happening in Solana Beach.
US Mortgage - well you could at least come to visit, right? It is a very neat community, especially the Cedros Design District.
Tom - VERY busy, doing well. We should chat again!
Joan - well I hope so too. Things have been up and down.
Jeff